Three New Tips To consider When Buying A Home In This Market
Tip #1 — Be prepared…Not in just the traditional ways such as being prequalified for a loan…think beyond that. Already know the schools, and make sure they are what you want for your family, check out the neighborhood, be aware of trains or busy streets. Find out how long the home has been on the market, what the tax rate is for property taxes, and Mello Roos. Make sure you go in with eyes completely open to repairs as much as possible and realistically what you can afford to fix.
Tip #2 — Think Strategically…make your offer attractive to the seller, be flexible about escrow terms, such as length, or a rent back.
Tip #3 — Seek out the Ugly Ducklings…don’t be afraid to look at a home that has been sitting on the market for awhile. True, the very finest homes, best locations, and upgrades, will generally sell quickly. But a home that just needs a little TLC, or new landscaping or paint, can sometimes have very motivated sellers in them, waiting for a reasonable offers. Don’t be afraid to negotiate on those types of properties.